Attract Calls from Real Buyers Who Plan to Buy from Your Direct Competitors
Quick summary.
Paybuyer enables you to pay people to call your company before they buy from a competitor.
- You can advertise your pay-the-buyer offer anywhere: on a web site, a store sign, TV, in print.
- You can put a Paybuyer pay-ad on your web site. Here's a sample.
- You use your existing phone number; no new equipment is needed.
- You only pay people who, within 10 days of calling your company, decide to buy from a direct competitor.
Why would you pay someone who buys from a competitor?
Because, you are paying for the chance to talk to a real buyer, right before a purchase. You are paying for the chance to win the business.
In effect, you're saying to potential customers, "We're so confident of the value we provide that we'll pay you if you decide to buy from someone else."
The Paybuyer process is explained for advertisers below, but we suggest you read the buyer explanation first - it's shorter.
-
Buyers are paid with a new form of payment called EV dollars and cents.
EV dollars and cents give a caller the chance to win a jackpot. They are a special kind of "sweepstakes entry."
From the advertiser's point of view, though, EV dollars and cents are basically the same as normal dollars and cents (more on this below).
For a short explanation of EV dollars and cents, click here.
-
How your money goes only to real buyers.
After Paybuyer selects a winning caller, we verify whether he bought from one of your direct competitors after calling your business.
If he did not buy from one of your direct competitors, he does not get your jackpot money.
In other words, a verified purchase from one of your competitors is required to collect the jackpot (yes, the process is legal).
How do we define a direct competitor?
When we find out what business a caller bought from, we ask you, the advertiser, whether the business is a direct competitor.
If you say yes, then we pay the caller a jackpot.
If you say no, we usually do not pay the caller the jackpot, but we let the caller appeal.
Why pay out real money in jackpots?
It's essential that the normal money payments be in large amounts so that we can afford to verify purchases and so that buyers will be willing to provide proof-of-purchase.
We CAN'T check whether a caller became a buyer, if the caller is receiving only $1, for instance, of normal money.
Would you submit proof-of-purchase if you were receiving only $1?
Do you remember the Seinfeld episode where Jerry had to sign royalty checks from Japan in paltry amounts, 23 cents, 35 cents, 17 cents? Signing gave him a cramp.
This illustrates perfectly why normal money is given to buyers in large amounts - jackpots. Ordinary small payments are too much trouble.
For more on this, see our White Paper.
-
You decide how many EV dollars and/or cents to give to real buyer callers.
As an advertiser, you decide how much each real buyer caller receives for calling your business.
In the beginning, we are limiting payments to callers to a maximum of 50 EV cents per call. We will raise this maximum as soon as possible.
Callers who are not buyers will also temporarily receive EV dollars, but these payments will be disqualified in the paybuyer inspection process.
You set and pay the jackpot.
As an advertiser, you decide how much buyers can win.
You pay that jackpot to winning buyers by depositing money in your account at paybuyer.com.
-
Advertisers pre-pay for calls. The process is much like buying a pre-paid phone card.
As an advertiser, you buy your calls from real buyers in advance, sort of like paying for calls with a pre-paid phone card.
After you pre-pay, you will have a balance that is debited down with each call that is reported through the Paybuyer system.
Advertisers pre-pay in "chunks" that are equal to the jackpot.
You will pre-pay in multiples of the jackpot that you have selected.
For example, if the jackpot is $100, then you will pay in multiples of $100.
Why? Because, you must have enough money in your account to cover jackpot payouts to winning real buyers.
The Paybuyer account management page will tell when you need to deposit more money to cover the payment of a jackpots.
You can pay for one or more jackpots at a time - whatever is most convenient.
One winner per pre-paid jackpot.
For each jackpot you deposit, we randomly select one caller to be the winner.
-
The novel twist: If a winning caller is NOT a real buyer, the advertiser receives an automatic refund of the jackpot amount.
If the winning caller is NOT a real buyer, the jackpot reserved for that caller is returned to you.
You can use it to pay for more calls or withdraw the money.
-
Please view this short animation.
To understand what happens to your money in the Paybuyer, it is best to view this short animation.
-
Paying with EV dollars and cents is easy and requires no equipment.
You can read the explanation below or try the process for free.
To set up a campaign for paying buyers, you:
- Choose one of your existing phone numbers that you want buyers to call.
- Choose the jackpot you want callers to win.
- Choose the amount you want to pay each real buyer caller.
- Choose a pay-the-caller ad to put on your web site (optional).
- Deposit money to cover the jackpot, plus Paybuyer's 20% fee.
You can try it without putting up any money to see how it works. Try it.
-
How buyers receive EV dollars for calling.
- A person who is ready-to-buy calls your company via Paybuyer click-to-call.
- The caller is credited with the EV dollar and cent amount you decided to give.
- The caller has a chance to win the jackpot you set - the chance is: (EV dollar amount )/( Jackpot amount).
- Paybuyer conducts an EV dollar drawing to randomly select whether the caller is a winner or not.
How VERIFIED buyers receive jackpots if they win an EV dollar drawing.
If the caller is selected as a winner, Paybuyer will pay the caller the jackpot from your account, but only if we verify that:
- he called your business and spent at least 2 minutes talking to someone
- he bought from a direct competitor after calling your business
- he bought within 10 days of calling.
Why you often receive more calls without putting up any more money.
If a winning caller did not buy, then as discussed above, your jackpot is refunded, your account is recharged, so to speak.
In other words, if the winner did not buy from one of your direct competitors, the caller's EV payment is disqualified and the money is returned to your Available Funds.
The process repeats until there is a winning caller who is a real buyer.
Sound confusing? The 2 key things to keep in mind are:
- your jackpot money only goes to a caller who buys from a direct competitor
- you will end up paying each real buyer caller, on average, over a large number of calls, the EV dollar amount you set.
- A person who is ready-to-buy calls your company via Paybuyer click-to-call.
-
What about cheaters?
Will some people with no intention of buying from your business advantage and take money from you? Yes, but you'll also win over cheaters if you offer a better value than your competition. Here's why.
-
How can you measure your return on paying buyers to call?
Paybuyer provides you the names (but not the contact data) of the people who reported calling your company.
You can then look at a list of your customers (which, we assume, your company has) and see:
- Which of those callers bought from your company
- What they bought
- How much they spent.
With all this information, you can measure how much money you made, roughly, from the people you paid to call.
And, we tell you how much you paid for all those Paybuyer calls.
With all this information, you should be able to measure your return on investment pretty closely.
Certainly, you should be able to measure your return better than you can with the Yellow Pages because we give you the names of callers who responded to your Paybuyer advertising, while the Yellow Pages does not.
Try it with no money. For more info, check the Advertiser FAQ.